Getting Started - Fixed Assets (Setup)

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Follow the steps below to start your Fixed Asset (FA)

1.Chart of Accounts - Prepare your Fixed Asset and Accumulated Depreciation accounts
2.Group master - Preset and arrange FA by the group (e.g. office equipment, furniture and fittings)
3.Category Master - (Optional) Define your FA by category (subset of office equipment : table, computer, printers, etc)
4.Location master - Define your location that your assets will be placed (especially if you have profit centre or retail outlets)
5.Brand master - (Optional)  FA brand (e.g Acer, Apple, Borsch, etc)
6.Asset Group Default Setting - Pre-set the method of depreciation of each group, useful life,
7.Reference Number for FA posting
8.Asset Master - create new asset code for newly purchased fixed asset or existing fixed assets with balance useful life
9.Asset Monthly Depreciation - Post your monthly depreciation to your GL journal

 

Next Topic : Step 1/11 of Chart of Accounts


Related Topics

Getting started : Fixed Assets Register 11 Steps to getting FA started

 

 

 

 

 

 

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